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Rich Asplund

Crude Prices Jump on Geopolitical Risks as Israel Strikes Hamas Leaders in Qatar

Oil Hamas Israel Qatar OPEC United States Middle East Russia Ukraine

October WTI crude oil (CLV25) today is up +1.09 (+1.75%), and October RBOB gasoline (RBV25) is up +0.0452 (+2.31%).

Crude oil and gasoline prices today are sharply higher on concern that the conflict in the Middle East could widen after Israel conducted a strike in Qatar targeting Hamas leaders. Also, Ukraine said it has stepped up attacks on Russian refineries and oil infrastructure, which is reducing Russian crude production capabilities. Dollar strength today is limiting the upside in crude prices.

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